General Dynamics Co. (NYSE:GD) to Post Q1 2024 Earnings of $2.77 Per Share, Seaport Res Ptn Forecasts

General Dynamics Co. (NYSE:GD - Free Report) - Investment analysts at Seaport Res Ptn reduced their Q1 2024 EPS estimates for General Dynamics in a research report issued to clients and investors on Monday, April 22nd. Seaport Res Ptn analyst R. Safran now anticipates that the aerospace company will post earnings per share of $2.77 for the quarter, down from their prior forecast of $3.23. The consensus estimate for General Dynamics' current full-year earnings is $14.56 per share. Seaport Res Ptn also issued estimates for General Dynamics' Q2 2024 earnings at $3.46 EPS and Q4 2024 earnings at $4.47 EPS.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $3.64 earnings per share for the quarter, missing the consensus estimate of $3.68 by ($0.04). General Dynamics had a net margin of 7.84% and a return on equity of 16.61%. The business had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.39 billion. During the same quarter last year, the firm posted $3.58 earnings per share. The company's revenue was up 7.5% on a year-over-year basis.

Several other brokerages have also recently commented on GD. Royal Bank of Canada boosted their price objective on shares of General Dynamics from $300.00 to $325.00 and gave the company an "outperform" rating in a research note on Tuesday, April 2nd. StockNews.com lowered shares of General Dynamics from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 3rd. Citigroup boosted their price objective on General Dynamics from $283.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, January 25th. Alembic Global Advisors downgraded General Dynamics from an "overweight" rating to a "neutral" rating and set a $296.00 target price on the stock. in a research report on Monday, January 29th. Finally, Barclays raised their target price on General Dynamics from $285.00 to $310.00 and gave the company an "overweight" rating in a research note on Monday, April 15th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, General Dynamics currently has a consensus rating of "Moderate Buy" and a consensus price target of $283.80.

General Dynamics Stock Performance

NYSE GD traded down $11.61 during midday trading on Wednesday, hitting $281.11. The company had a trading volume of 3,927,984 shares, compared to its average volume of 1,103,578. The firm has a fifty day simple moving average of $280.02 and a two-hundred day simple moving average of $261.08. The company has a quick ratio of 0.92, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The stock has a market cap of $77.13 billion, a price-to-earnings ratio of 22.95, a P/E/G ratio of 1.85 and a beta of 0.68. General Dynamics has a fifty-two week low of $202.35 and a fifty-two week high of $296.50.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be paid a $1.42 dividend. This is an increase from General Dynamics's previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a yield of 2.02%. The ex-dividend date is Thursday, April 11th. General Dynamics's dividend payout ratio (DPR) is presently 47.25%.

Insider Buying and Selling

In other General Dynamics news, EVP Mark C. Roualet sold 73,330 shares of the company's stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $264.75, for a total value of $19,414,117.50. Following the transaction, the executive vice president now owns 149,205 shares in the company, valued at approximately $39,502,023.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Mark C. Roualet sold 73,330 shares of the company's stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $264.75, for a total value of $19,414,117.50. Following the sale, the executive vice president now directly owns 149,205 shares of the company's stock, valued at approximately $39,502,023.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Phebe N. Novakovic sold 32,355 shares of the company's stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the transaction, the chief executive officer now owns 773,977 shares of the company's stock, valued at $204,569,860.87. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On General Dynamics

A number of institutional investors have recently bought and sold shares of the stock. MeadowBrook Investment Advisors LLC bought a new stake in General Dynamics in the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. purchased a new position in shares of General Dynamics during the fourth quarter worth $25,000. Redmont Wealth Advisors LLC acquired a new position in General Dynamics in the 1st quarter worth about $25,000. Briaud Financial Planning Inc purchased a new position in General Dynamics in the 3rd quarter valued at $27,000. Finally, Impact Partnership Wealth LLC boosted its position in shares of General Dynamics by 411.5% during the 3rd quarter. Impact Partnership Wealth LLC now owns 133 shares of the aerospace company's stock valued at $29,000 after acquiring an additional 107 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.